Prosecutors are tracing overseas bank accounts with international authorities in the widening probe into food and entertainment giant CJ Group, which is suspected of massive income tax evasion through offshore slush funds and illegal wealth transfers to the chairman’s children.

Sources said the Seoul Central District Prosecutors’ Office are currently working to retrieve data relevant to CJ Group’s overseas account transactions with the help of related local and international organizations including the Korea Financial Intelligence Unit.

The prosecutors are reportedly eying possible slush fund operations in Hong Kong and the British Virgin Islands.

Investigators suspect CJ Group established paper companies overseas to dodge taxes and to operate slush funds. News reports said the prosecutors are planning to summon the group’s chairman Lee Jae-hyun for questioning in a near future.

(jhl@heraldcorp.com)